16th July 2019
People are often wondering if we are at the height of the real estate market or they’d like to know if it will go up further. Of course, when you are in a situation that allows you to be flexible with the timing of your sale you’d like to make sure you are getting the maximum profit by selling at the right time!
While there is no absolute answer to this question (I don’t have a crystal ball!) I do have some very useful insight to share that can help you make an informed decision.
Currently, mortgage rates are low, this means buyers are able to afford more making the pool of potential buyers larger and often more willing to pay more for the right home.
In addition, currently, there is very low inventory throughout Los Angeles which makes for greater buyer demand. This allows for higher sale prices and often sellers are in the advantageous positions of having multiple offers on their property.
Also adding to the overall picture of the current market is the increase in remote working. As more and more people are working from home, the area where people will live has expanded. This change in lifestyle has brought greater demand to Valley areas.
While this market could shift down with changes in mortgage rates or unemployment increases, the current mix of conditions leads to a market that is currently favorable for sellers.
So while I can’t provide a magical prediction of the future (I’m a realtor not a psychic!) I do hope the information I’ve shared will help you make a decision that makes sense for you. I’m always happy to provide my expert opinion to help you evaluate your home and current circumstances so that you can decide if this really is the right time for you to sell.